Sign of the Financial Industry Regulatory Authority

Stanley Bernard Secor of Salt Lake City Utah a stockbroker formerly registered with Cetera Advisor Networks LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Secor refused to provide documents and information to FINRA when he was being investigated for possible violations of FINRA rules and securities laws. Letter of Acceptance Waiver and Consent No. 2020065022401 (July 28, 2020).

FINRA Public Disclosure confirms that on December 18, 2019, Secor was discharged by Cetera Advisor Networks founded on accusations that he failed to abide by the terms of a suspension that was in place by the securities broker dealer.

According to the AWC, in January of 2020, an investigation was commenced by FINRA which was focused on the scope and nature of Secor’s business dealings with customers of Cetera Advisor Networks. The regulator also probed Secor in regard to his correspondence with customers. The stockbroker was under suspicion by FINRA of violating rules or engaging in conduct that may have run afoul of federal securities laws.

On June 26, 2020, Secor was told by FINRA personnel to hand over documents and information in reference to its investigation. Secor’s legal counsel contacted FINRA personnel on July 7, 2020 to indicate that Secor received the request for his documents and information and that the stockbroker declined to cooperate with it. FINRA determined that Secor’s obstruction of the investigation was violative of FINRA Rules 2010 and 8210.

This is not the first time that Secor has been sanctioned by a securities regulator for misconduct. He was issued an Order by Utah Securities Commissioner in April 2020 in which he was fined $25,000.00 and barred by the regulator from associating with any of its state-based investment advisories and securities broker dealers based upon allegations that the stockbroker engaged in unethical and dishonest practices in violation of the policies set forth by his securities broker dealer employers.